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Exclusive Breaking News: Bahamas Petroleum tries £10 million placing, flops and is now pulled

By Tom Winnifrith | Wednesday 5 February 2020

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

On January 6 Bahamas Petroleum (BPC) announced that it was raising £2 million at 2p from a Bahamas based fund. On January 30th it issued a ramptastic roadmap to drilling RNS and the shares rocketed. What more did oily spiv Jerry Keen and his colleagues at broker Shore Cap need to whir into action.

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